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Pre Market Update
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Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
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Wednesday, October 19, 2011
Pre Market Update [6:32 AM Update]
[6:32 AM Update]
Another perspective. Look at the MACD trendline.
Pre Market Update
Copper may be hinting at the wave 2 pullback for SPX. Notice the rejection of the MACD TL on the backtest? Need to keep an eye out on any triangulation.
If ES makes a new high, one more -ve MACD divergence may be put in.
Should one more high be made, 13 waves (an impulse) will have completed off the 10/18 low capping off what may be five waves up off the 10/4 low.
Pre Market Update